Silicon Valley Bank scrambles to reassure clients after 60% stock wipe-out

[RealDude]

Apparently the next global banking crisis is on the horizon…

Silicon Valley Bank scrambles to reassure clients after 60% stock wipe-out

SVB Financial Group scrambled on Thursday to reassure its venture capital clients their money was safe after a capital raise led to its stock collapsing 60% and contributed to wiping out over $80 billion in value from bank shares.

www.reuters.com

Europe's banks sucked into global rout as high rates reality hits home

European bank shares tumbled on Friday in the wake of a dramatic sell-off in U.S. lenders as concern spread that the sector will be vulnerable to the rising cost of money.

www.reuters.com

Credit Suisse shares hit new all-time low as banks hit by U.S. fallout

Credit Suisse shares hit a new all-time low in early trading on Friday as the European banking sector suffered the fallout from a sharp sell-off in U.S. financial stocks.

www.reuters.com

 

[RealDude]

SVB in talks to sell itself, as crisis triggers global banking rout​

Silicon Valley Bank is largest failure since 2008 crisis, billions stranded

Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded.

www.reuters.com

 

[Martin Everson]

Ok now that was quick action by regulators.

 

[Larin]

About time. SVB was one of the worst banks I have had the pleasure of dealing with. Its like they were stuck in the 80s (with a terrible web banking to prove it).

 

[JackAlabama]

usdc circle is affected from this fallout and is down by 10%.
While the much s** on usdt is still at 1usd.

 

[RealDude]

Silicon Valley Bank is largest failure since 2008 crisis, billions stranded​

Crisis exposes banking 'vulnerabilities' amid rising rates

Silicon Valley Bank is largest failure since 2008 crisis, billions stranded

Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded.

www.reuters.com

 

[troubled soul]

Companies that have disclosed exposure with Silicon Valley Bank: -

- Circle: $3.3 billion
- Roku: $487 million
- BlockFi: $227 million
- Roblox: $150 million
- Ginkgo Bio: $74 million
- IRhythm: $55 million
- RocketLab: $38 million
- SangamoTherapeutics: $34 million
- LendingClub: $21 million
- Payoneer: $20 million

 

[MiddleEuroAsia]

Add silvergate bank and signature bank to the list. The top 3 banks in this market are down, so buckle up and get ready for the dozens of crypto companies/exchanges that used these banks for their fiat services and on/off ramp operations to tell you that their "fiat" services are down for "maintenance" .

Crypto-focused bank Silvergate is shutting operations and liquidating after market meltdown

Silvergate Capital said on Wednesday that it will wind down operations and liquidate its bank, which served the crypto industry.

www.cnbc.com

Regulators close crypto-focused Signature Bank, citing systemic risk

U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis.

www.cnbc.com

 

[RealDude]

After SVB failure, US acts to shore up banking system confidence​

U.S. authorities launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank (SIVB.O)threatened to trigger a broader financial crisis.

After a dramatic weekend, regulators said the failed bank’s customers will have access to all their deposits starting Monday and set up a new facility to give banks access to emergency funds. The Federal Reserve also made it easier for banks to borrow from it in emergencies.

While the measures provided some relief for Silicon Valley firms and global markets on Monday, worries about broader banking risks remain and have cast doubts over whether the Fed will stick with its plan for aggressive interest rate hikes.

After SVB failure, US acts to shore up banking system confidence

U.S. authorities launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank threatened to trigger a broader financial crisis.

www.reuters.com

 

[GeneralGogol]

Great prediction guys

 

[369]

Great prediction guys

View attachment 4582

Go buy into the suckers rally....ROFL

Like always nice coordinated playbook
Stock market was no suckers rally of course heh ? and the news about collopsing bank right on top of suckers rally.What a nice coincidence ROFL
At least all markets will go down even commodities opening doors for cheap buying and lowering some cost average in the next 3 months

 

[JackAlabama]

Great prediction guys

View attachment 4582

That was more of the easy ones.

 

[JohnnyDoe]

If you ever had the pleasure to deal with Signature, you would wonder how such a bank could even exist. I never found so many morons concentrated in the same space.

 

[Martin Everson]

HSBC swoops in to rescue UK arm of Silicon Valley Bank​

HSBC swoops in to rescue UK arm of Silicon Valley Bank

The Bank of England and government worked all night to secure a deal involving no taxpayer money.

www.bbc.com

 

[JackAlabama]

If you ever had the pleasure to deal with Signature, you would wonder how such a bank could even exist. I never found so many morons concentrated in the same space.

Emphasis added on the core qualification needed to work at these institutions.

 

[Jorozey]

This is an old world problem... We were overdue a crash for 10 years. Now they have prepared a CBDC for us, with which they will SaVe Us

 

[369]

There will be no crash.
Its a transfer into a new monetary system and totalitarian system.

 

[JohnnyDoe]

Signature's letter to me in 2018:

"Re: Account #xxx
Dear Mr. Doe:
Please accept this email letter as notification that Signature Bank has decided to close out the banking relationship currently opened under the entity named xxx effective xxx 2018.
Please make arrangements to transfer the money from the account prior to xxx.
Should you have any questions, please contact Joseph Seibert, SVP & Group Director Digital Asset Banking, at 646.949.4022.
Thank you. "

 

[RealDude]

Biden pledges 'whatever needed' for U.S. system as banks hit by SVB fallout​

Bank stocks around the world plunged on Monday even as President Joe Biden vowed to take whatever action was needed to ensure the safety of the U.S. banking system, after Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) collapsed late last week.

Biden's attempt to reassure markets and depositors came after emergency measures by the United States to guarantee deposits at tech-focused lender SVB failed to dispel investor worries about potential contagion to other banks worldwide.

In the United States, First Republic Bank (FRC.N) tumbled by as much as 76.6% despite news it had secured fresh financing, while Western Alliance Bancorp (WAL.N) and PacWest Bancorp (PACW.O)fell 82.5% and 53%, respectively. Trading in the stocks was halted several times due to volatility.

Biden pledges 'whatever needed' for U.S. system as banks hit by SVB fallout

Bank stocks around the world plunged on Monday even as President Joe Biden vowed to take whatever action was needed to ensure the safety of the U.S. banking system, after Silicon Valley Bank and Signature Bank collapsed late last week.

www.reuters.com

 

[RealDude]

Global bank stock rout deepens as SVB collapse fans crisis fears​

Shockwaves from the collapse of Silicon Valley Bank pounded global bank stocks further on Tuesday as assurances from President Joe Biden and other policymakers did little to calm markets and prompted a rethink on the interest rate outlook.

Banking stocks in Asia extended declines, with Japan's banking subindex leading the fall, down 6.7% in early trade to its lowest since December.

"Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. "Arguably, liquidity measures should have stopped these dynamics but Main Street has been watching news and queues – not financial plumbing."

Investors tiptoe back into US bank stocks, regulators probe SVB collapse

Bruised U.S. bank stocks regained some ground on Tuesday, as a sell-off sparked by Silicon Valley Bank's collapse gave way to bargain-hunting by investors hopeful that efforts to shore up confidence would avert a wider financial crisis.

www.reuters.com